Macquarie Issues Pessimistic Forecast for PACS Group (NYSE:PACS) Stock Price

PACS Group (NYSE:PACS) had its price target lowered by Macquarie from $42.00 to $24.00 in a research report sent to investors on Monday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

PACS has been the subject of a number of other research reports. Citigroup began coverage on PACS Group in a research note on Wednesday, September 11th. They set a “buy” rating and a $45.00 price target for the company. UBS Group started coverage on PACS Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 price target on shares of PACS Group in a research report on Tuesday, December 17th. Stephens cut their price objective on shares of PACS Group from $48.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, Truist Financial reduced their target price on shares of PACS Group from $46.00 to $32.00 and set a “buy” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

PACS Group Stock Performance

PACS opened at $13.37 on Monday. PACS Group has a 1-year low of $12.54 and a 1-year high of $43.92. The company’s fifty day moving average price is $18.41 and its two-hundred day moving average price is $30.26. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 1.71.

Hedge Funds Weigh In On PACS Group

Several institutional investors have recently bought and sold shares of PACS. JPMorgan Chase & Co. increased its position in PACS Group by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 1,272,720 shares of the company’s stock worth $50,871,000 after buying an additional 70,786 shares during the last quarter. Virtu Financial LLC bought a new position in shares of PACS Group during the 3rd quarter worth $472,000. Geode Capital Management LLC increased its holdings in PACS Group by 65.2% in the 3rd quarter. Geode Capital Management LLC now owns 834,440 shares of the company’s stock worth $33,359,000 after acquiring an additional 329,288 shares during the last quarter. Barclays PLC raised its stake in PACS Group by 651.3% in the 3rd quarter. Barclays PLC now owns 63,366 shares of the company’s stock valued at $2,532,000 after acquiring an additional 54,932 shares during the period. Finally, Zimmer Partners LP lifted its holdings in PACS Group by 191.2% during the third quarter. Zimmer Partners LP now owns 2,329,529 shares of the company’s stock valued at $93,111,000 after purchasing an additional 1,529,529 shares during the last quarter.

PACS Group Company Profile

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.